Another N.J. mall is losing its J.C. Penney as struggling retailer announces more closures

One of New Jersey’s last remaining J.C. Penney department stores will be closing its doors later this year, the company announced Thursday.

J.C. Penney said it will be closing 18 stores this year, including its location at the Hamilton Mall in Mays Landing on July 5, after the company suffered a net loss of $255 million in 2018.

“This decision is the result of an ongoing review of our store portfolio, which includes assessing locations that may not meet our required financial targets or represent an opportunity to capitalize on a beneficial real estate asset,” J.C. Penney said in a statement. “It’s never easy taking actions that directly impact our valued associates and customers, however we feel this is a necessary business decision.”

Eligible employees at the Hamilton Mall store who do not transfer to a different location will get separation benefits, the Texas-based retailer said.

While no other New Jersey locations will be closing this year, the company said it will also close nine ancillary home and furniture stores in the second quarter of 2019.

J.C. Penney has reported annual losses over the last few years including a net loss of $118 million in 2017, according to a press release from the company.

After the Hamilton Mall store closes this year, there will only be 11 J.C. Penney locations left in the Garden State including the ones at Ocean County Mall in Toms River, Freehold Raceway Mall and the Monmouth Mall in Eatontown.